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Announced

Piteco to acquire a 70% stake in RAD Informatica for $43m.

Synopsis

Piteco, a financial software company, agreed to acquire a 70% stake in RAD Informatica, a company engaged in the production, supply and commercialization of software for the organization of the entire management process of non-performing loans and recovery of bank and financial credit, for $43m. The acquisition represents, in a strategic, industrial and managerial perspective, an important opportunity for the growth and development of the Piteco Group business. The acquisition is aimed at consolidating the role of the Piteco Group as a leader in the financial software industry at a national and international level, with a distinctive competitive position in the industry and with significant growth and value creation prospects. Piteco confirms its project to grow by external lines, which envisages the realization of aggregation transactions with primary software manufacturers.

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